Pavlodar ORP changes the owner

/IRBIS, Nov 10, 00/ - Tomorrow, the property of the biggest oil refining plant (ORP) in Kazakhstan will be transferred to Mangistaumunaigas (MMG), new owners of the plant. The plant will also change its name and partnership type and will be called as Pavlodar Petrochemical Plant closed joint-stock company. The MMG is currently controlled by Central Asia Petroleum (Indonesian) that mines oil in the Western Kazakhstan. In May 1999 the MMG won a case against Pavlodar ORP and received its main technological facility worth of $7 bln. However, the Pavlodar ORP has been under the management of CCL-Oil (the USA) until July 2000 when the government cancelled the contract. Since, the plant was under temporary control of the Ministry of Power Resources, Industry and Trade. The decision to transfer the most modernised plant was also motivated by its long time stoppage in condition of oil products deficit. The new owner, MMG received 51% stake of shares and other 49% will be controlled by the government. Source in the MMG reported that in November this year the plant will process 130,000 tons of oil of which 50,000 is already at stores. The planned production capacity of the plant is 600,000 tons of oil. Using materials of Almaty office of REUTERS.